KOSPI · July 1, 1998

Just past the low

+5.94%

single-day change vs previous close

Part of a longer stretch

Korea's post-IMF rebound

early in it · 1998-06-16 → 1999-04-27, +183.56% over the whole period

What happened that day?

The KOSPI rose 5.94% to close at 315.56. No single trigger for the day could be pinned down
The low of this episode had come two weeks earlier, on 16 June
Near a low, prices have fallen so far that modest buying moves them a long way — there is little stock left to sell into it
Korea was just beginning to lower the rates it had raised as a bailout condition. High rates were killing companies
The episode fell 51.11% from the March high to the June low — half the market gone in three and a half months
The recovery that began here ran to the pre-crisis high in April the following year

Sources

Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is put together from the public record; where a specific source was consulted it is listed above.